SFNet's International Lending Conference will be held in person May 23 to 25, 2022 at DLA Piper Offices in London, UK. The Conference is geared towards those active in the international lending space, who need a clear understanding of the current global landscape, what may be on the horizon, and what it all means for your business. Some of the most interesting players on the international lending scene will gather for discussions and insights into what lies ahead.

“After two years, we are very excited to get back together in person with our favorite colleagues in the world of international lending—to catch up and to talk about new opportunities,” said David Morse, partner, Otterbourg P.C.  “This is a conference where you always learn something new and pick up some interesting bit of information that helps you in thinking about your cross-border deals. The panels this year run the gamut from high-level reviews of market issues from some of the most-informed and thoughtful people in the industry to the nuts and bolts, practical issues of making secured cross-border loans work.”

CIT Northbridge Credit, as advised by CIT Asset Management LLC, has served as sole lead arranger on a $65 million credit facility for Hello Bello, a manufacturer and marketer of baby, child and adult care products.

Launched in 2019 by co-founders Kristen Bell and Dax Shepard, Hello Bello is a parenting platform providing premium and affordable products designed to eliminate the choice many parents have to make between what’s best for their family or best for their budget. 

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $25.0 million of liquidity through a senior secured credit facility to support Natural Gas Compression Systems (“NGCS”), a Michigan-based full-service gas compression equipment and service business throughout the United States and Canada.

Monroe Capital LLC (“Monroe”) today announced the final close of its 2022 Monroe Capital Private Credit Fund IV (“Fund”) with $4.8 billion of investable capital, including targeted fund leverage and separately managed accounts investing alongside the Fund.  The Fund has limited partner commitments with over 300 investors in 17 countries.  The Fund primarily targets private equity sponsored and non-sponsored, lower middle-market U.S. companies with less than $35 million in EBITDA. 

Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a $10,000,000 senior secured credit facility (which includes an accordion feature) for myGemma, a modern and professional alternative for consumers wanting to buy or sell high-end luxury goods. The credit facility will be used to support increased working capital and additional inventory purchases as the business continues to rapidly grow.

Laura Kemper Glass, chair of SFNet’s WISF Committee, is senior vice president and senior portfolio manager for Bank of America Business Capital (BABC).  Based in Atlanta, Glass is responsible for the middle market and large corporate asset-based lending portfolio in the Eastern United States and Europe and the lower middle market portfolio nationwide. In this role, she leads a team of credit professionals responsible for managing a $20 billion portfolio of credit commitments in the asset-based lending plus related products and solutions. 

Editor’s Note: SFNet’s WISF Conference will be held June 15-16 in New York City. For details click here.

Crestmark, the Commercial Finance division of MetaBank®, N.A., is pleased to announce the additions of Richard Flamang and Ralph Aurelia as experienced business development team members to the Working Capital group. They will be responsible to enhance the growth of small- to medium-sized businesses by providing asset-based lending solutions.

Gordon Brothers, the global advisory, restructuring and investment firm, has received $300 million in financing from Canada Pension Plan Investment Board (CPP Investments) through its subsidiary CPPIB Credit Investments Inc., increasing the firm’s capital base to over $1 billion.

This financing will fuel the continued rapid growth of the firm’s capital offerings, which generated over $700 million in originations worldwide in 2021, building on billions of assets traded and financed in recent years.

Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading owner and operator of sustainable infrastructure and energy efficiency projects, has entered into a senior credit agreement of $76.3 million with joint lead arrangers Fifth Third Bank, National Association, and PNC Capital Markets LLC. Morgan Stanley Renewables Inc. served as tax equity investor. Fifth Third Bank also served as administrative agent.

First Citizens Bank today announced that it has hired experienced banker Linda Stanley as a relationship manager in its Middle Market Banking business.

In this role, Stanley will be responsible for developing, maintaining and expanding client and prospect relationships in the middle market financing sector, where the bank is a leader.

Eclipse Business Capital (“EBC”) announces the completion of a revolving credit facility for a vertically integrated manufacturer of steel products.  The credit facility will be used to refinance existing bank indebtedness and provide ongoing working capital financing.  The new revolver from Eclipse will provide needed liquidity to allow the company to capitalize on its strong market position and technical expertise.

We’ve all heard the phrase “The Great Resignation” over the past few months. Angela Fiorentino of AmeriFactors Financial Group and a member of SFNet’s Women in Secured Finance Committee gathered several top female executives to discuss the best way to communicate your professional goals and hold some of those “tough conversations” in this current climate.

Chris McCarty has a powerful accounting and credit analysis background, which he has leveraged over the past 15+ years to help clients solve cash flow and funding issues through the application of Asset-Based Lending, Specialty Finance, and Commercial Lending solutions. Chris previously worked with First Business Bank in 2019, and also has worked at First Horizon & Renasant Bank. 

U.S. Bank announced it hired Daniel Stampfel and Mitch Rubin as senior vice presidents of its asset-based finance division. The hires are part of a strategy for the broader U.S. Bank commercial banking team to continue its expansion in Texas and across the country to better serve middle-market clients.

Here we sit with Daniel, Mitch and David Slavik, SVP, national sales director – middle market, U.S. Bank Asset Based Finance, to discuss expansion in New York and Texas, goals for the rest of the year, and industry trends and predictions.

Last year was a study in contrasts as many business sectors recovered from the pandemic recession only to face a new challenge: rising inflation. The financing market was no exception.

In its annual indicator of industry activity, the Secured Finance Network (SFNet) found cause for optimism but warned members to expect continued economic pressures in 2022.

The 2021 Annual Asset-Based Lending & Factoring Survey cited a year of rapid economic growth and increased demand for financing. Portfolios were strong, with SFNet reporting a significant decline in gross write-offs relative to volume and average earning assets.

Prana, a leader within the organic and plant-based food industry, is pleased to announce the signing of a three-year credit agreement for a senior secured revolving loan facility and a senior secured term loan facility with Wells Fargo Capital Finance Corporation Canada that will enable the next stage of the company’s growth.

Leslie J. Polt, Esq., Adelberg Rudow, provided the following analysis of Maryland’s Commercial Financing Transactions Act (SB825). He can be reached at lpolt@adelberg.com. 

SFNet will continue to track this along with all other state disclosure legislation and work to influence favorable outcomes for our industry. 

CIT, a division of First Citizens Bank, has appointed Geoff Black to the position of managing director and group head for the Lender Finance business in its Business Capital division. Black, who was also promoted to senior vice president, will be based in Jacksonville Florida and will oversee sales, marketing and business development for all of Lender Finance.

White Oak Global Advisors, LLC, (“White Oak”) announced today it has provided a $75 million term loan to North Atlantic Imports, which also operates under the name Blackstone Products (“Blackstone” or the "Company"), a Utah-based distributor of branded griddles and accessories. The loan was offered on a split-lien basis alongside a Wells Fargo ABL Revolver.

In this article, Hilco experts from across the Valuation Services team discuss how the ongoing inflationary environment is impacting a broad range of industries from a cost, pricing and operational perspective.